Family Resource Home Care acquires Woodinville agency
In-home care company acquires Woodinville, WA-based businessAugust 17th, 2023
Liberty Lake-based Family Resource Home Care has acquired Companion Care Inc., of Woodinville, Washington.
Jeff Wiberg, CEO of FRHC, says the acquisition is part of the in-home care company’s goal of increasing its market share across Washington, Idaho, and Oregon, where it now has a total of 29 offices, including one in Spokane Valley and one in Liberty Lake.
“It’s covering a geography that we really don’t have a lot of penetration into,” he says of the city north of Seattle. “It was the right size, the right makeup, a good culture match.”
The company’s growth isn’t expected to stop with this acquisition, Wiberg says.
“I anticipate it will be the first of many that we’ll try to close over the course of the next 18 months,” he says. “We do plan to continue to expand, both through opening up new offices organically as well as through acquisition.”
All baby boomers—those born between 1946 and 1964—will have reached the age of 65 by 2030, which increases the need for care services, Wiberg says.
“There’s a strong desire for folks to be able to age in place,” he says. “Demand is definitely high.”
For in-home care, the estimated cost is about $35 an hour, according to AARP.
Employees from Companion Care are expected to retain their jobs, Wiberg says.
Companion Care employed about 100 people, which brings FRHC up to over 2,000 total employees, he says.